Moderator: 3ne2nr Mods
Refinery to close
‘Petrotrin buying oil to process not profitable’
THE Government has decided to shut down the refinery of State oil company Petrotrin.
The country can no longer afford to continue to refine oil and lose billions of dollars in this process, a senior Cabinet source told the Express yesterday.
The company will instead be expanding its operations in oil exploration and production, the source said.
The source said Oilfields Workers’ Trade Union (OWTU) president general Ancel Roget was told “in no uncertain terms that the major restructuring at Petrotrin will be that Trinidad and Tobago would be moving out of the refinery business because it does not have oil to refine”.
agent007 wrote:I sense that there is nothing more really to add or takeaway from the countless discussions on the topic of Petrotrin and its future. So to summarize here is a very brief snapshot of the current position:
1. The current and past governments are to be blamed for Petrotrin's current position.
2. The management of Petrotrin both past and present is to be blamed for the current position.
3. The non-management employees, both past and present of the company (permanent and contract) are to be blamed.
4. The trade union directives both past and present are to be blamed.
1. Petrotrin is in $13B or so in debt.
2. The current operating climate does not improve Petrotrin's debt position.
3. Obvious re-structuring is imminent.
4. Nepotism took place, like WASA, T&TEC and TCL etc etc, there are people who got through with job positions not 100% on academic qualifications but on a 'who knows who' basis.
5. There is a thick cloud of corruption and unethical business practices that currently takes place within Petrotrin.
6. The union kicking up a fuss because they are singing for their supper.
7. Tax payers want value for money and right now, while any right thinking person will obviously empathize and sympathize with the 5,000 current workers with respect to the loss of jobs coming out of the restructure, but the truth is, we have to think of the impact Petrotrin is having on our nation which can affect the lives of over a million people. So its a situation of 5,000 and its dependents vs the rest of the country. The rest of the country must win.
And most already invested into renewable. Re BP globalEFFECTIC DESIGNS wrote:The Rowley PNM might be even more dotish than the Manning PNM. But even with that if you look at the world globally more and more countries are pushing renewable energy harder and harder. Hybrid cars right here in Trinidad are exploding in popularity, if something isn't done soon to diversify our economy we will end up like Haiti one day.
Trinidad is too corrupt to get anything done, I keep hearing PNM supporters at my work saying that oil can't done sell because big oil companies won't allow renewable energy to take over but what these cacaholes don't realize is that these same big oil companies has the resources to invest in the same renewable energy if push come to shove.
We only have brain dead leader here only know to close down and send home workers....infinite_RPM wrote:They should open back up sugar factory and export ethanol.. lewwe do it like brazil
To be honest e85 if blended down here and exported would be worth a lot.. and sugar cane is something you could use 100 percent of.. no wasted material.. I say open back caroni one time.. hit us a back in times special..sinister_14 wrote:We only have brain dead leader here only know to close down and send home workers....infinite_RPM wrote:They should open back up sugar factory and export ethanol.. lewwe do it like brazil
sinister_14 wrote:We only have brain dead leader here only know to close down and send home workers....infinite_RPM wrote:They should open back up sugar factory and export ethanol.. lewwe do it like brazil
kstt wrote:Caroni close down. Now we have biofuels.
Train abandoned. Now we need a train system.
Guyana find oil. We closing we refinery.
Will agriculture be an option now?
EFFECTIC DESIGNS wrote:Ultimately what does this mean for Trinidad?
neilsingh100 wrote:Guy in video is clearly uninformed. I hope the majority of the population understand the need to make a business decision and don't buy into the propaganda of the union. The new piece of misinformation is the country now have to pay more to import gasoline which is not true. The fact that we had to sell our gasoline at a loss on the international market proves we could buy at a lower cost.